During the co-tsardom of Ivan V and Peter I, coins were struck under both names simultaneously — a direct consequence of the Miloslavsky-Naryshkin dynastic struggle that briefly split the throne. This piece bears Peter's name but was issued during years when real power resided largely with Regent Sophia. The wire-money format, hammered from a flattened silver rod and cut to weight, had been standard Muscovite practice since the 15th century and was already technologically obsolete by the time these were struck — Western-style milled coinage would replace it entirely under Peter's monetary reforms of 1698–1704.
During the co-tsardom of Ivan V and Peter I, coins were struck under both names simultaneously — a direct consequence of the Miloslavsky-Naryshkin dynastic struggle that briefly split the throne. This piece bears Peter's name but was issued during years when real power resided largely with Regent Sophia. The wire-money format, hammered from a flattened silver rod and cut to weight, had been standard Muscovite practice since the 15th century and was already technologically obsolete by the time these were struck — Western-style milled coinage would replace it entirely under Peter's monetary reforms of 1698–1704.